Cyprus News Agency: News in English, 11-05-26

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] SOUTH AUSTRALIA PREMIER CYPRUS PROBLEM

[02] FINANCE MINISTER EUROPEAN BOND PROGRAMME

[03] ``ARGONAUT`` - JOINT MILITARY EXERCISE

[01] SOUTH AUSTRALIA PREMIER CYPRUS PROBLEM

Rann was speaking to Greeks and Cypriots of Australia in Adelaide, where he and Cyprus President Demetris Christofias laid the foundation stone for the new hall of the building of the Cypriot Community of South Australia.

According to a press release, issued here today, President Christofias, on an official visit to Australia, expressed the gratitude of the people of Cyprus for Australia`s stance on Cyprus.

South Australia`s Premier praised President Christofias commitment to a settlement, saying that it has resulted in the engagement of the international community.

Rann added that the Presidents ability to engage the former leader of the illegal Turkish Cypriot regime in the negotiations has yielded good results, expressing hope for an agreement. He said, however, that the change in leadership of the Turkish Cypriot community has blocked a number of chapters, on which substantial progress had been achieved.

The Australian official said that he is aware of President Christofias vision for the future of Cyprus as a country of peaceful co-existence, common prosperity and creativity of all Cypriots, adding that he applauds his commitment and support his vision.

Rann noted that his willingness to speak out on the Cyprus issue nationally and internationally has resulted in criticism from Turkey and the illegal regime in occupied Cyprus.

He added however that he considers these attacks an honor for him and that he will continue to provide strong and practical support in the pursuit of a reunited, federal Cyprus, with full restoration of human rights of all refugees. He also said that he has never spoken against the Turkish Cypriots or the Turkish people.

President Christofias stressed that his goal is to reunite Cyprus and end the unacceptable occupation that violates international law, the principles of the UN Charter and every sense of justice.

President Christofias expressed the gratitude of the people of Cyprus for the Australian stance in favor of their struggle for freedom.

Our Turkish Cypriot compatriots are not our enemies, they are our brothers and Ive been blamed for saying that. They are Cypriots like us and that is why they are protesting today against the presence of thousands of settlers, a Turkish effort to change the demographic composition of the Cypriot population, said Christofias.

He added that the wall of Nicosia will fall sooner or later.

Cyprus has been divided since 1974, when Turkish troops invaded and occupied 37% of its territory. Talks are currently underway between the leaders of the two communities to reunify the island.

[02] FINANCE MINISTER EUROPEAN BOND PROGRAMME

``The main reason we are doing this is should we need to borrow large amounts from the international markets to support organisations in Cyprus which may face problems - to ensure that we have all procedures ready to be able to use any possible opportunity which may arise without delay,`` Stavrakis has told the press on the sidelines of a conference in Nicosia. As he said, ``this is the only reason. It increases the flexibility of the Finance Ministry to use possibilities to secure large amounts from international markets if such opportunities arise.``

Phaedon Kalozois, head of the Finance Ministry`s Public Debt Management Office, told reporters that Cyprus plans to increase its EMTN bond programme from EUR 6 billion to EUR 9 billion. So far Cyprus has utilised a total of EUR 4.75 billion from the EMTN programme. He said this does not mean that Cyprus intents to issue bonds for the whole 9 billion but because ``investors consider a relatively small margin (for borrowing) as negative.``

Kalozois also announced that Cyprus will issue in the domestic market 5-year and 10-year Government Registered Development Stocks (GRDs) worth of 30 million each with a coupon of 5% and 6% respectively. The auction will take place on June 9.

[03] ``ARGONAUT`` - JOINT MILITARY EXERCISE

According to an official announcement, the exercise is taking place from May 31 to June 3, for the sixth consecutive year, at sea, on air and on land, in the area between the cities of Larnaca, Limassol and Paphos.

It is noted that, during the exercise, a crisis management plan will be implemented, foreseeing for the collection, sheltering and evacuation of civilian personnel, as well as the response to search and rescue missions. It is added that the scenario of the mission will include the whole range of possible asymmetric threats, which require effective civil-military cooperation.

The final stage of the exercise will take place on Friday, June 3, at the Lieutenant General Evangelos Florakis naval base, in Zygi, on the southern coast of Cyprus, the announcement concludes.

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